Headline News

16
May 2013
A Billion Back

A three part plan for making workers’ comp work for Ohio
Reiterating his administration’s singular focus on creating jobs and improving Ohio’s economy, Governor Kasich en­dorsed three specific actions proposed by BWC Administrator/CEO Steve Buehrer with respect to managing the por­tion of net assets that exceeds the board-approved ratios.

The proposal:
1.   Requests that the BWC Board of Directors authorize a one-time dividend of $1 billion for private employers and public-taxing districts.
2.  Expands the agency’s successful Safety Grant Program from $5 million to $15 million to support expanded statewide efforts to promote workplace safety and encourage further investment in protecting Ohio’s workers.
3.  Asks the Legislature to modernize the premium collection model by authorizing BWC to move toward a prospective-payment system and subsequently requesting the board issue an additional $900 million to mitigate transition costs. This switch would also result in rate reductions of 2 percent for private employers and 4 percent for public employers
 
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Posted by Susan Murawski on May 16, 2013 at 4:25 PM
Business News
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